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Debt
6 Months Ended
Mar. 31, 2012
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

Note 13 – Debt

 

Long-term debt associated with the Sovereign Bank Loan Agreement has been reclassified to a current liability in the amount of $8,028,688 as the Company believes that it will not satisfy its financial covenants under the Sovereign Bank Loan Agreement as of June 30, 2012.

 

In addition, based on the exercise of the Put Right in February 2012, the Company has reflected its obligation to pay the aggregate purchase price of $1,857,546 assuming it will satisfy such obligation with the payment of a promissory note. Specifically, regarding such obligation, the Company has reflected $1,395,916 as long-term debt and the balance as the current of such long-term debt obligation.